This software has the flexibility to let you quickly create the Joint Venture document you want. It does this by providing many options with appropriate defaults.

One common default is 'Do Not Specify'. This default means that the finished agreement will not have a clause dealing with that topic. The benefit of not specifying is that you get a shorter and simpler document, and in some cases, the issue may not even be applicable; however, the document will be less precise.

If you are unsure of an answer, you can leave the answer blank and a blank line will be inserted in the place of your answer. You will be able to fill in that answer later (but before the contract is signed).

Governing Law

Governing State:

Please review the resulting agreement with a qualified lawyer regarding any further issues specific to your state.

As Texas law will view Joint Venture as a Partnership you should consider using our Partnership Agreement instead or review the resulting agreement with a qualified lawyer.

Type of Joint Venture

Form of Joint Venture:

A joint venture in the form of a general partnership may be required where the parties to an agreement carry on a business in common with a view to profit and where profits and losses are shared. In this case the individual Members will have unlimited liability for the debts and liabilities of the Partnership and the actions taken by other Members on behalf of the Partnership. Generally, income from a partnership is passed on to the partners. The partners must include this income in their federal adjusted gross income (for individuals) or taxable income (for other taxpayers) however a partnership may still be required to file a tax return.

A contractual joint venture is tax transparent where there is no pooling of profits or losses and no formal registration requirements. Further, there may be limited liability provided the joint venture is not deemed a partnership. Where the relationship amounts to a partnership, two or more persons carrying on a business in common with a view to profit, then general partnership rules would apply to each member.

Venture Information

Venture Name:

(e.g. XYZ Venture)

Venture Purpose:

(e.g. Construction and operation of a Super 8 motel in Austin, TX)

Venture Address:

(e.g. Street, City, State and Zipcode)

What is the expected life of the Venture?

The Joint Venture will remain in full force as a functioning business entity for this period of time. (Eg. 1 year, 18 months, 5 years, etc.)

Member Information

Number of Members:

First Member's Information

Member Name:

Member Address:

(e.g. Street, City, State and Zipcode)

Type of party:

Second Member's Information

Member Name:

Member Address:

(e.g. Street, City, State and Zipcode)

Type of party:

Third Member's Information

Member Name:

Member Address:

(e.g. Street, City, State and Zipcode)

Type of party:

Fourth Member's Information

Member Name:

Member Address:

(e.g. Street, City, State and Zipcode)

Type of party:

Fifth Member's Information

Member Name:

Member Address:

(e.g. Street, City, State and Zipcode)

Type of party:

Sixth Member's Information

Member Name:

Member Address:

(e.g. Street, City, State and Zipcode)

Type of party:

Seventh Member's Information

Member Name:

Member Address:

(e.g. Street, City, State and Zipcode)

Type of party:

Eighth Member's Information

Member Name:

Member Address:

(e.g. Street, City, State and Zipcode)

Type of party:

Ninth Member's Information

Member Name:

Member Address:

(e.g. Street, City, State and Zipcode)

Type of party:

Tenth Member's Information

Member Name:

Member Address:

(e.g. Street, City, State and Zipcode)

Type of party:

Capital Contribution

Member

Contribution Description

Agreed Value

Enter a description and agreed capital value for the Capital Contribution for each Member. Some Members may be providing cash while other Members may be providing property with an agreed cash value.Click for an Example

Member

Contribution Description

Agreed Value

West Coast Investments Inc.

Standard Refining and Development Inc.

What is the schedule and details of payment for the Capital Contribution of each Member?

Member

Schedule

Enter the payment schedule for each Member's Capital Contribution particularly the contribution deadlines.Click for an Example

Member

Schedule

West Coast Investments Inc.

Standard Refining and Development Inc.

What are the specific duties of each Member?

Member

Duties

Enter the duties specific to each Member. Some Members may be providing research and management skills while other Members may be providing only equipment.Click for an Example

Member

Duties

West Coast Investments Inc.

Standard Refining and Development Inc.

Profit and Loss Allocation Method:

Profit Share

Member

Proportional Profit/Loss Percentage

The sum of the profit/loss percentages must add up to 100

Enter a percent of profit and loss for each Member. Total must equal 100% for all Members.(e.g. 25, 33.33, etc.)

Tax Matters Partner:

Financial

Currency:

All monetary amounts will be in the designated currency. Select the currency type: USD (US Dollars), CAD (Canadian Dollars) etc.

Fiscal Year End:

Accounting Method:

Cash Basis
A method of recording earnings and expenses only upon receipt or payment without regard to when they occurred or were incurred.

Accrual Basis
A method of recording earnings and expenses as they occur or are incurred without regard to the actual date of collection or payment.

Management

Venture Management:

Indicate if the day-to-day management of the company will be performed by a Management Committee or through a Board of Directors.

Voting Method:

Voting may be proportional to each Member's relative Capital Contribution or proportional to each Member's relative profit entitlement or there may be an equal vote where each Member gets one vote.

When will meetings be held?

(Eg. monthly, quarterly, only as required, etc.)

Who can call a special meeting?

What percent of Partnership vote is required to call a special meeting?

(e.g. 10, 25, 51, etc.)

Terms

Start Date:

What percent of Membership vote is required to amend this Agreement?

(e.g. 51, 75, 91, 100, etc.)

What percent of Membership vote is required to dissolve the Venture?

(e.g. 25, 50, 100, etc.)

What percent of Management vote is required to appoint an accounting firm?

(e.g.25, 50, 100, etc.)

How will Venture assets be distributed on Dissolution or Dissociation?

Are Members allowed to participate in activities in competition with the Venture?

YesNo

For what time period is a Member prohibited from competing after withdrawal from the Venture?

(e.g. 2 years, 18 months, etc.)

Members must keep business and financial information of the Venture confidential?

YesDo Not Specify

For what time period is a Member prohibited from releasing confidential information after the dissolution of the Venture?